Second, Third, Fourth and fifth property!

[Chandler Calvert]

So you can check out my last forum post about buying my first rental property. It’s going great today and is cash flowing pretty well. We just refinanced during Covid-19 and took our rate from 7.25% to 5.5%. Enough about the first property though! Let’s dig into what my thread is really about.

Property 2:

So I called my real estate agent and asked if she had anything on the books I might want and she said no. I was a little discouraged but that’s ok. Little did I know she was gonna call a couple days later wanting to sell one of her own rental properties...My lucky day! In a matter of two days we put in an offer and it was accepted. We close on it next week and it comes with the current tenant.

Details:

Single family

3 Bed/2 Bath

Aprrox. 1,600 Sq Ft

Rent $675

Mortgage $350-$400 will know more next week.

Property 3:

I found a property last night on a busy highway. Called my agent around 9:00 PM and told her I wanted to see it early the next day. We looked at it and placed a offer on it and it was accepted that day. We will start paperwork on this one next week.

Details:

Single family house zoned commercial.

3 Office / 1 Bath

Approx. 800 sq ft

Rent unknown but hoping $900-$1000

Mortgage should be about $400-$450

Property 4:

This one is connected to property 3 and I happen to know the owner and told him I wanted to purchase it and he quoted me a price on the spot. It’s a single family home. This one isn’t a done deal yet but will be posting an update soon.

Property 5:

This one is also a single family home and again will post details as soon as we have a contract in place.

I’m posting this thread to keep it updated. All of this has transpired in a 2 week period. We are trying to move pretty aggressively but according to all the numbers these places should cash flow very well. Feel free to message me with any questions.